London morning: S&P 500 down 0.52% Friday, Nikkei 225 lower by 0.80%, EUR/USD flat

The S&P 500 closed Friday's session at 7623.68, down 0.52% from the previous close. The Nasdaq 100 ended little changed, while Japanese stocks traded lower on Monday.

What happened

On Wall Street, the S&P 500 lost 39.75 points on Friday, 2026-10-23, to close at 7623.68. The previous close was 7663.43. The decline was 0.52%.

The Nasdaq 100 was little changed. It closed at 28957.53, against a previous close of 28958.69. That is a change of 1.16 points lower, a move too small to register as a percentage. The gap between the two US indices shows that the weakness on Friday was not even across the market.

In Asia, the Nikkei 225 stood at 62189.65 at 15:25 Tokyo time on Monday, 2026-10-26. That is 503.51 points, or 0.80%, below the previous close of 62693.16. The decline in Tokyo was larger in percentage terms than the one in the S&P 500 on Friday.

In currencies, EUR/USD stood at 1.1205 at 08:00 UTC on Monday. The previous close was 1.1204. The pair was flat, with a change of 0.0000, or 0.00%.

Why it matters

The figures give a first read of where global markets stand before European trading begins. The broad US index ended the week with a modest decline. The technology-heavy Nasdaq 100 showed almost no change, so the two benchmarks sent different signals at the close.

The Nikkei 225 sets the tone for Asian trading at the start of the week. Its 0.80% decline is the largest percentage move among the four instruments in this report.

The flat reading in EUR/USD shows no clear pressure on the euro or the dollar overnight. Currency moves matter for European companies that earn revenue abroad, because they change the value of foreign sales when reported in euros. At this stage, the pair is little changed from the previous close of 1.1204.

For London and other European exchanges, the overnight picture is mixed. The US close was lower for the broad index and little changed for the Nasdaq 100. Asian stocks, represented here by the Nikkei 225, traded lower. The Italian stock exchange opens its session at 09:00 Rome time and runs until 17:30.

What to watch next

The first focus is the European open. Market participants will see how European indices respond to Friday's decline in the S&P 500 and to the lower level in Tokyo. The Italian session begins at 09:00 Europe/Rome, which is the same moment as 08:00 in London.

The second focus is Wall Street. The US cash open later today will show whether Friday's pattern continues, with the S&P 500 lower and the Nasdaq 100 steady. The reference points are Friday's closes of 7623.68 for the S&P 500 and 28957.53 for the Nasdaq 100.

The third focus is EUR/USD. The pair stands near 1.1205 and was unchanged from the previous close of 1.1204. Any move away from that level during the European session would show a change in currency sentiment. The Nikkei 225 will also be a reference when Tokyo trading ends, after its latest reading of 62189.65.